Frequently asked questions relating to Lytchett Matravers leasehold conveyancing
I am in need of some leasehold conveyancing in Lytchett Matravers. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and 99.9% are in Lytchett Matravers - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having checked my lease I have discovered that there are only Fifty years left on my lease in Lytchett Matravers. I now wish to get lease extension but my freeholder is can not be found. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to locate the freeholder. In some cases an enquiry agent may be useful to try and locate and to produce a report which can be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Lytchett Matravers.
I am hoping to complete next month on a leasehold property in Lytchett Matravers. Conveyancing solicitors assured me that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Lytchett Matravers should include some of the following:
- The length of the lease term You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
- You must be told what constitutes a Nuisance in the lease
- Whether your lease has a provision for a sinking fund?
- Repair and maintenance of the flat
- The landlord’s rights to access the flat you be made aware that your landlord has rights of access and I know how much notice s/he must provide.
- Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
- What you can do if a neighbour is in violation of a provision in their lease?
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Lytchett Matravers. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Lytchett Matravers ?
The majority of houses in Lytchett Matravers are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Lytchett Matravers in which case you should be shopping around for a Lytchett Matravers conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your solicitor will advise you fully on all the issues.
I've recently bought a leasehold flat in Lytchett Matravers. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Lytchett Matravers Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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It would be sensible to investigate if there are any onerous prohibitions in the lease. By way of example it is fairly common in Lytchett Matravers leases that pets are not permitted in in a block in Lytchett Matravers. If you love the apartmentin Lytchett Matravers however your cat is not allowed to make the move with you then you will be faced difficult decision.
You should be aware that where the lease has fewer than 80 years it will have adverse implications on the marketability of the apartment. Check with your bank that they are happy with the length of the lease. A short lease means that you will most likely require a lease extension at some point and it is worth finding out how much this will be. For most Lytchett Matraverslease extensions you would need to own the property for a couple of years before you are entitled to exercise a lease extension.